Yahoo eyes major stake in YouTube alternative Dailymotion

Yahoo’s (YHOO) ambitions to expand its reach on the web have now come into clearer focus now as The Wall Street Journal reports that the company is considering buying a major stake in Dailymotion, the second-largest video sharing website on the Internet after YouTube. Unnamed sources have told the Journal that buying a stake in the French video-sharing site “would help U.S.-based Yahoo to gain a bigger toehold in online video in parts of Europe and Asia.” The Journal’s sources also say that Yahoo initially plans to buy as much as 75% of the site while retaining the option to purchase the entire company, which could be valued at $300 million.